World Triathlon Corporation

Client

Client World Triathlon Corporation

Space

19,386 sq. ft.

Industry

Industrial

Locations

Denver

Services Provided

Transaction Management

Cresa Team

Matt Burton

Mike Statter

Client Objectives

World Triathlon Corporation (WTC) — owners of the “Ironman” brand — stages events for endurance athletes around the globe. Cresa’s Denver office assisted WTC in their move from Boulder in 2015 to a new facility located in Louisville, CO. This facility is the logistics center for staging events, not only storing and shipping the materials and equipment needed, but also for coordinating details of the events with local personnel.

At the beginning of 2019 and with one and a half years remaining on their lease, WTC needed to add a considerable amount of office space to accommodate a dozen new associates. Until Cresa, became involved in the transaction, WTC was planning on funding the cost of this office expansion (approximately $125K).

Results

Cresa helped educate WTC management on the market by identifying and touring available facilities in the area, and initiated dialogue with WTC’s landlord (Etkin Johnson) about an early renewal that included the cost of WTC’s office expansion. These negotiations culminated in an agreement that enabled WTC to stay in their current facility for a 7-year renewal term at a market rate that included the cost of the office build out.

We wanted an office that mirrored our reputation: distinguished, professional and high-quality. From the beginning, Cresa understood our business objectives and what we wanted to achieve. Thanks to them we’ve achieved a substantial increase in the space at our site and are well on our way to buying our future home